A growth is expected.

Assumingly, the third wave 3 of the senior level continues developing. Locally, a correction as wave (ii) of iii seems to have ended. If the assumption is correct, the third wave (iii) has started forming, and the pair continues growing to 1.1150-1.1250. A critical for this scenario is the level of 1.0786 the breakdown of which would lead to a fall to 1.0710-1.0630.

Trading tips

Buy the pair from corrections, above the level of 1.0786 with the target at 1.1150-1.1250.

Alternative scenario

The breakdown and consolidation below the level of 1.0786 would allow the pair to continue falling to 1.0710-1.0630.

EUR/USD: wave analysis

EUR/USD: wave analysis

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